IT stocks power Indian blue-chips to four-week highs

Indian blue-chip indexes, NSE Nifty 50 and S&P BSE Sensex, reached four-week highs due to the strong performance of IT stocks. The expectation that the Federal Reserve will stop hiking rates and possibly cut rates by May has driven foreign investors to buy IT stocks. Tata Consultancy Services saw a 2.75% gain after announcing a share buyback plan. The positive outlook for Indian markets is also attributed to the easing rate outlook in the US and UK, which could attract foreign inflows. https://ift.tt/UmxHs58